India, Aug. 6 -- Oil prices rebounded on Wednesday following four consecutive retreats.
Benchmark Brent crude futures jumped 1.6 percent to $68.71 a barrel in European trade, while WTI crude futures were up 1.6 percent at $66.23.
U.S inventory data from the American Petroleum Institute (API) overnight indicated increased energy demand in the world's largest economy, helping oil prices rebound from recent string of losses.
The API data showed commercial crude oil inventories fell by 4.2 million barrels in the week ended Aug. 1, compared to expectations for a decline by 1.8 million barrels.
There was a decline in gasoline inventories of 900,000 barrels during the period, but distillate inventories-which include diesel and heating oil-rose...